Planet Fitness (PLNT) Consumer Complaints to States’ GAs and CEO Dismissal Case

In January 2023, a report alleged that financial irregularities in operations at Planet Fitness (PLNT) resulted in numerous consumer complaints to states’ AGs.
On it, $PLNT fell 4.5%, losing $317M+ of shareholder value.
In September 2023, Planet Fitness (PLNT) announced dismissal of CEO by the Company’s BoD.
On it, $PLNT fell 15,9%, losing $812M+ of shareholder value.
Investors may have grounds to suspect that Planet Fitness hid its financial practices irregularities, which led to their losses.
On January 19, 2023, The Bear Cave published a report alleging, that Planet Fitness overbilled customers and prevented them from cancelling their memberships, resulting in numerous consumer complaints to states’ AGs.

Then, on September 15, 2023, Planet Fitness announced that Company’s BoD had made the decision, and that the Company’s CEO would be stepping down, effective immediately.

On this news, $PLNT fell 4.5% and lost over $317 million of its market capitalization in January 2023 seriously damaging shareholders, and then $PLNT fell 15.9% and lost over $812 million of its market capitalization in September 2023, further damaging shareholders.

Considering all the information, investors might have grounds to suspect that Planet Fitness failed to timely disclose its unfair customer practices, which consequently led to their losses.

The case is already under investigation by at least one of the reputable law firms.

Case Status

Attorney Investigation

Alleged Offence

Misleading Statements,

Failure to Disclose,

Omissions

Suspected Party

Directors,

Management

Security Type

Stocks

Trade Direction

Long

Shock Event Date

09/15/2023

Planet Fitness (PLNT) Consumer Complaints to States’ GAs and CEO Dismissal Case

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